Negotiations are nearly complete, with Bowe's manager, Rock Newman, and promoter Dan Duva near a settlement on Duva's 28 percent interest in three of Bowe's future championship bouts, Newman said.

"It's all but done," Newman said. "We only have to dot some i's and cross some t's. Right now, I don't see any obstacles in the way of a rematch."

For Bowe to obtain a title shot last November against then-champion Holyfield, Newman had agreed to Duva's 28 percent interest in three future bouts.

But after Bowe was stripped of his World Boxing Council belt for failing to make Lennox Lewis his first title defense, Newman sought to void the deal and sued Duva, charging him with monopolizing the heavyweight division.

Last week, a New York federal court judge ruled the suit "frivolous" and told the two promoters to settle their differences out of court.

Duva, the president of New Jersey-based Main Events, Inc., also has promotional ties to Holyfield and Lewis.

A Main Events spokesman said he thought Newman would free himself of his contract with Duva by agreeing to Holyfield's receiving a bigger purse than Bowe in the rematch.

"It will be a variation of that," Newman said.

"All I can say is that Duva's interest in Bowe will be dramatically reduced."

Since becoming champion, Bowe has made quick work of lightly regarded challengers Michael Dokes and Jesse Ferguson.

The match with Ferguson at RFK Stadium, May 22, attracted only 5,000 paid spectators.

Holyfield, who had also sought to sever business ties with Duva and now has rock star Hammer as a financial adviser, ended a brief retirement, June 26, by winning a lackluster 12-round bout against journeyman Alex Stewart in Atlantic City, N.J.

Caesars Palace recently turned down an opportunity to be host to a Lewis title match against top-ranked Tommy Morrison on the same Nov. 5 date.